That's what I've described. If the browser _can_ play it, then we just let the browser play it. Otherwise we use vlc to play it.
Our plan is up on the wiki too: http://www.archiveteam.org/index.php?title=VLC.js
Our plan is up on the wiki too: http://www.archiveteam.org/index.php?title=VLC.js
The one thing I like most about VLC is that it always works (so far).